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kmitch1212
Visitor

Value on used bins?

We just purchased additional acerage in Western Illinois with these intact bins.  I do not believe they have been used for sometime.  Is there any worth in trying to sell or am I better off scrapping?  How would you even go about putting a value on these?  I know the larger Superior is 32 in diam, 8 rings high, the smaller Superior is 27 in diam and 7 rings high.  Not sure on the two smaller bins.

 

Thanks!

 

Mitch 

 

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7 Replies
Senior Contributor

Re: Value on used bins?

Not much value in any used bin. To much labor. Why don't you use them. Even if it's just as temporary storage durring harvest.
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kmitch1212
Visitor

Re: Value on used bins?

Additonal property was purchased to increase our horse property.  Other surrounding land is 130 acres of timber.  Bins appear to not have been used for the past couple of years. 

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Senior Contributor

Re: Value on used bins?

I'm no where near you. But I accually rent a bin similar to those. But wouldn't take it if the owner offered to give it to me. I guess the point is you may be able to rent them And at least get something out of them. Not sure how your property taxes work out there but I'd see which way saved the most money. They guy I rent mine from likes me to use it since it makes his property look more like a "farm" therefore saving him some money on his taxes. However if tearing them down lowered the value of the land that may be a better way to go.
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Senior Advisor

Re: Value on used bins?

Very little value.  I'm in the process of getting rid of a smaller dryer bin in good shape.  Very little interest.  

Some options include giving them to a charity and write it off your taxes, require they take them away.

Scrap them yourself.

Get the insurance off them and as soon as they're gone the property tax, tool

The LP tanks will be worth maybe $1,000 or so.

I wouldn't rent them out.  Other people on your property, they'll go bad just when you don't need the hassle and the renter will want you to fix them ASAP.

I'm likely going to scrap mine.

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Senior Contributor

Re: Value on used bins?

kmitch1212,

 

I would have some interest in purchasing them from you if the price was right. I am east of Havana a ways and would move them myself. 

 

 

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kmitch1212
Visitor

Re: Value on used bins?

Well the good news is that I have one sold w/ check in hand for $2,000.  One down, three to go.

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Senior Contributor

Re: Value on used bins?

Sounds like your making progress. I will check back after the crop is planted to see if there are any left.
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